In the Wake of Bank Collapses, Are Stablecoins Really That Stable?

The cryptocurrency market has been rattled by the recent collapse of SVB and the subsequent depegging of stablecoins. This incident has highlighted the need for greater transparency and accountability from stablecoin issuers and the importance of regulatory oversight in ensuring the stability of the cryptocurrency market.

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Timeline of Multi-collateral-dai, Frax, Trueusd, Usdp

Fresh loan attack on Euler Finance leads to largest crypto hack of 2023, millions in DAI and stETH stolen - Cryptopolitan

On March 13, a flash loan attack on the Ethereum-based noncustodial lending protocol Euler finance resulted in an estimated loss of $196 million worth of Dai (DAI), staked Ether (StETH), and wrapped Bitcoin (WBTC). However, this marks the biggest hack of 2023 to date.

Crypto Platform Huobi Exchanged $100,000,000 USDC for DAI During Stablecoin Depegging Scare: On-Chain Data - The Daily Hodl

Crypto exchange Huobi converted $100 million worth of USD Coin (USDC) to Dai (DAI) as uncertainty spread in the stablecoin market this weekend, on-chain data shows. According to blockchain tracking firm Lookonchain, Huobi made the large transaction early on Saturday morning.

Will MakerDAO's New Plan Save DAI From Becoming Another UST? - Coingape

In the midst of the chaos that is presently plaguing the crypto market over the past twenty-four hours — with the USDC stablecoin depegging and concerns over the extent to which this will affect other cryptocurrencies — MakerDAO has devised an emergency plan to protect its native stablecoin, DAI, from further exposure to potentially unstable The post Will MakerDAO's New Plan Save DAI From Becoming Another UST? appeared first on CoinGape.

Stablecoins on the Rise: Binance's $50 Million TrueUSD Minting Signals a New Era of Crypto Stability Amid Regulatory Challenges! - CoinPedia

Binance, one of the world's largest cryptocurrency exchanges, has announced that it has minted $50 million worth of TrueUSD, a stablecoin pegged to the US dollar. This decision comes after the New York State Department of Financial Services (NYDFS) halted the issuance of another stablecoin, BUSD, by Paxos, amid regulatory scrutiny.

MakerDAO Votes to Keep Gemini USD in DAI Stablecoin's Reserves - Coindesk

In a dramatically tight voting, some 51% of votes favored ousting Gemini's stablecoin from MakerDAO's reserve. The result is a significant blow to GUSD, as MakerDAO has held 85% of all tokens in circulation.

MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears - The Block

MakerDAO has begun the process that could see the protocol limit the DAI's exposure to Gemini's stablecoin. The post MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears appeared first on The Block.

DeFi Protocol Frax Building Stablecoin Solutions, FXS Doubles in Price - BeInCrypto

Frax Finance has been one of 2023's hottest decentralized finance protocols. As stablecoin and liquid staking narratives gain traction, its native token has been on a wild ride up.

Financial Giant Société GénÉrale Withdraws $7 Million in DAI From MakerDAO Vault - CryptoGlobe

France-based multinational financial services giant Société Générale has withdrawn $7 million in the cryptocurrency-backed stablecoin DAI from MakerDAO, out of a vault that has a debt ceiling of $30 million in DAI.

TrueUSD Launches TCNH, a TRON-Based Stablecoin Pegged to Offshore Chinese Yuan - Bitcoinworld

San Francisco, United States, 15th December, 2022, Chainwire We are thrilled to announce that the TrueUSD team is launching a new product called TCNH, which is a stablecoin pegged to Offshore Chinese Yuan (CNH) at 1:1.

The latest proposal from MakerDAO could have this impact on DAI - AMBCrypto

MakerDAO voted to implement the DSR that would see DAI holders get 1% of their investments DAI, currently the fourth largest stablecoin, witnessed a decline in volume over the last 24 hours MakerDAO, the governance division of Maker, the company that issues DAI, recently voted on the addition of interest rates in a proposal on 28

Bitcoin Bitcoin
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Ethereum Ethereum
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276.077000 -8.49%
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Cardano Cardano
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